Latest News
Shehbaz, Zardari discuss key issues as PPP hints at budget support
According to sources in the know, a meeting between Prime Minister Shehbaz Sharif and President Asif Ali Zardari has led to a consensus between the federal administration and Pakistan Peoples Party (PPP) on most of the ideas for the 2018 federal budget.
A meeting held at Aiwan-e-Sadr where PM Shehbaz led the government team and met key PPP leaders. Prime Minister was attended by Deputy Prime Minister Ishaq Dar, federal ministers and staff of the Ministry of Finance.
PM Shehbaz was received by President Zardari on his arrival at the Presidency. PPP Chairman Bilawal Bhutto Zardari headed the party’s delegation during the talks that were held on the federal budget and other significant national issues.
Sources said the two parties agreed on most of each other’s recommendations on the budget in the meetings. The move is seen as a big step forward in winning parliamentary backing for the government’s budgetary strategy.
Sources added PPP has also given a positive indication for the adoption of the government budget. BUT debates on several practical and technological issues are likely to continue.
Sources noted that technical committees on both sides will continue conversations on a number of practical issues that need to be studied further before final decisions are taken.
There was also a brief discussion on the just ended elections in Gilgit-Baltistan. Sources said PM Shehbaz thanked President Zardari on the PPP’s
electoral success inside the region.
The prime minister reportedly smiled and said that Bilawal Bhutto Zardari had run a more effective election campaign than his political rivals during the chat. President Zardari reacted in a lighter vein: “After all who is his father?”
Sources further disclosed that the meeting was also attended by the Prime Minister of Azad Jammu and Kashmir. They exchanged opinions on the prevailing situation in Azad Kashmir and developments in the region.
The talks come at a critical time as the government seeks political agreement ahead of the presentation and passage of the federal budget, with both sides apparently narrowing divisions on major budgetary ideas.
Entertainment
Cinema diplomacy between Pakistan and Uzbekistan is being led by Pakistan.
Pakistan, Uzbekistan agree to strengthen institutional linkages to promote cultural exchange, people-to-people contact through media APP ISLAMABAD:- Pakistan and Uzbekistan have discussed to strengthen institutional linkages to promote cultural exchange and people-to-people contact through media. Minister for Information and Broadcasting Attaullah Tarar and Uzbekistan’s Ambassador Alisher Tukhtaev held a meeting here in Islamabad, APP reported on Monday.
“Pakistan values its partnership with Uzbekistan and is committed to turning shared ideas into tangible results for both countries”, In a post on X, Tarar said.
The minister said both sides discussed ways to boost cooperation in media, cinema and cultural exchanges, including potential joint productions and digital collaboration.
The discussion focused on strengthening cooperation between Pakistan and Uzbekistan in film production including cooperative short films, documentaries and drama series, the report stated.
“The ambassador appreciated Pakistan’s contribution in the promotion of peace in the region and efforts made by Islamabad for peace-related initiatives and negotiations,” APP said.
Pakistan, he said, pays significant value to its relations with Uzbekistan and is willing to further enhance cooperation in the fields of media, cinema and culture.
He said such initiatives would need the participation of established production houses and large scale film projects might be initiated through collaborative financial agreements between the two countries.
The minister highlighted the need to promote joint media content on the common historical and cultural legacy of Pakistan and Uzbekistan.
“Both sides agreed to improve co-ordination between their respective social media teams for development of joint digital content and co-ordinated online promotional strategy,” the APP report said.
It was also agreed to improve collaboration between the media organisations of the two countries.
The exchange of study tours of journalists of both sides will enhance mutual understanding and professional exchange, the minister added.
Business
PSX climbs back to 170,000-point mark on solid rally
The benchmark index of the Pakistan Stock Exchange (PSX) once again surpassed the 170,000-point mark, indicating that the PSX saw a robust recovery on the second trading day of the week.
A dramatic bullish trend was noticed in the stock market at the beginning of trade, with the index gaining more than 2,000 points and reaching the level of 171,006 at the same time.
It is important to recognise that the benchmark index had finished the previous trading session at 168,953 points, following a decrease of 1,525 points. This is something that should be mentioned.
The recovery is attributed by market observers to the resurgence of investor confidence as well as the optimistic trading sentiment that prevailed at the beginning of the new session.
Business
Punjab will purchase one million metric tonnes of wheat from PASSCO
The Punjab government has decided to buy one million metric tonnes of wheat from Pakistan Agricultural Storage and Services Corporation (PASSCO) to keep the prices of wheat and flour stable in the province.
The decision has been accepted by the Chief Minister Maryam Nawaz Sharif to maintain the stability of prices in the wheat and flour market and to provide the public with inexpensive flour and bread. Under the scheme, flour mills will be supplied wheat for Rs 3,300 per maund.
The provincial government said that the assertions of limitation on wheat supply from Sindh to other provinces through Punjab were not founded on confirmed facts and no formal complaints had been recorded so far about stopping of wheat supply from Sindh to Khyber Pakhtunkhwa.
Officials said the procedure of declaration of wheat stocks is in progress and compilation of the whole data is underway. They also said that the present wheat crop has relatively lower grain size. They said stock assessment is important for planning food security.
The government said it will also assure supply of wheat to Khyber Pakhtunkhwa under its obligation of inter-provincial after addressing the food requirements of Punjab itself.
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